Tag: Veronica Baitova

A few weeks ago, FinTelegram published a report on a battle between high-risk payment processors Paypound, BoomBill, and XCepts. They accused each other of withholding $2.5 million that could not pay out to Paypound merchants. The freezing of funds is not an uncommon approach in the high-risk merchant segment. We have received new complaints again from XCepts merchants in the online gambling industry about non-payouts. We advise merchants to stay alert when doing business with XCepts.

We reported yesterday on a blog post by Paypound accusing BoomBill and their partner Xcepts with Paul Schroeder of withholding $2.5 million in funds that Paypound could not pay out to its merchants. After we published our report, the battle evolved. In a new article on LinkedIn, Paypound elaborated the story further but claimed that the merchants were paid out despite the alleged theft. Already on June 4, 2022, Paul Schroeder of Xcerpts issued a press release, calling Paypound scammers and thieves.